why oil prices will down sept 9 2011 : Crude oil futures were down Friday as the euro slumped against the dollar and European stock markets fell on euro zone debt contagion worries and concerns the U.S. Federal Reserve is not doing enough to stimulate the U.S. economy.
Oil prices typically fall as the dollar strengthens as it makes the commodity more expensive for holders of other currencies.
U.S. President Barack Obama's $447 billion proposal in tax cuts and new spending to revive the U.S. economy wasn't enough to restore confidence to markets, even though the stimulus package was larger than analysts had expected.
Fears over economic growth in the U.S., the world's largest oil consumer, removed some of the support oil prices were receiving from a tropical storm in the Gulf of Mexico that potentially threatens some crude output.
the oil market is supporting prices in the long term despite fears over the economic situation in the U.S. and Europe.
Energy producers are monitoring tropical storm Nate, which could strengthen into a hurricane Friday or Saturday, according to the National Hurricane Center.
BP PLC (BP. BP.LN) has already evacuated non-essential personnel from three production platforms in the U.S. Gulf Thursday. Over a quarter of U.S. oil output is produced in the Gulf of Mexico.
For now, we see a relatively controlled slowdown on the [oil] demand and as long as supply continues to disappoint to a similar extent, prices will stay where they are for now. Brent crude is expected to end at $115 a barrel for the year, he added. Read oil prices forecast 2011-2012
At 1102 GMT, the ICE's gasoil contract for September delivery was down $17, or 1.8%, at $950 per metric ton, while Nymex gasoline for October delivery was 345 points lower at $2.8507 per gallon.
crude oil price prediction september 2011, crude oil forecast desember 2011, oil demand, oil price september 9 2011.
Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts
Friday, September 9, 2011
Wednesday, September 7, 2011
crude oil prices up impact US hurricane season sept 7 2011
crude oil prices up impact US hurricane season sept 7 2011 : Oil up to near $87 in Europe amid rising equities, weaker dollar, Obama speech expectations, Oil prices rose to near $87 a barrel Wednesday amid a strong rebound in equity markets, a weaker dollar and hopes that President Barack Obama will announce new economic support measures in a major policy speech later this week.
By early afternoon in Europe, benchmark oil for October delivery was up 72 cents to $86.74 in electronic trading on the New York Mercantile Exchange. Crude fell 43...
Crude oil prices rose on Wednesday as the US hurricane season threatened to disrupt supplies to the US economy, the world's biggest oil consumer, analysts said.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in October, jumped $2.28 to $88.30 a barrel.
Brent North Sea crude for October delivery advanced $1.53 to $114.42 a barrel.
Traders were eyeing weather conditions off the US coast as the country endures its storm season, said Nick Trevethan, senior commodities strategist at ANZ Research in Singapore.
"The market remains concerned about the possibility of a major storm in these six to seven weeks before the hurricane season ends, offering a little bit of support for WTI prices," he told AFP.
Hurricanes tend to jack up crude prices in the short term as offshore refineries are forced to close and may even be damaged in their wake, creating a supply disruption. Copyright © 2011 AFP
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By early afternoon in Europe, benchmark oil for October delivery was up 72 cents to $86.74 in electronic trading on the New York Mercantile Exchange. Crude fell 43...
Crude oil prices rose on Wednesday as the US hurricane season threatened to disrupt supplies to the US economy, the world's biggest oil consumer, analysts said.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in October, jumped $2.28 to $88.30 a barrel.
Brent North Sea crude for October delivery advanced $1.53 to $114.42 a barrel.
Traders were eyeing weather conditions off the US coast as the country endures its storm season, said Nick Trevethan, senior commodities strategist at ANZ Research in Singapore.
"The market remains concerned about the possibility of a major storm in these six to seven weeks before the hurricane season ends, offering a little bit of support for WTI prices," he told AFP.
Hurricanes tend to jack up crude prices in the short term as offshore refineries are forced to close and may even be damaged in their wake, creating a supply disruption. Copyright © 2011 AFP
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Tuesday, September 6, 2011
crude oil price sept 6 2011
crude oil price sept 6 2011 : Oil prices headed lower to near $83 a barrel Tuesday in Asia as investor fears of a recession in developed countries sent equities and commodities lower.
Benchmark oil for October delivery was down $3.02 to $83.43 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude last settled at $86.45 on Friday because U.S. markets were closed Monday for the Labor Day holiday.
In London, Brent crude for October delivery was steady at $110.08 on the ICE Futures exchange.
European and Asian stock markets have sunk so far this week amid growing concern a debt crisis among countries using the euro common currency will undermine economic growth there and around the world.
A stagnant U.S. jobs market is also hurting confidence. The Labor Department said Friday that U.S. employers stopped adding jobs in August and the unemployment rate remained at 9.1 percent.
"Bottom line, it's not unreasonable to suggest the U.S. is in a jobs depression," energy consultant The Schork Group said in a report.
President Barack Obama is scheduled to announce new policy measures to spark job creation in a speech Thursday.
In other Nymex trading for October contracts, heating oil fell 5.1 cents at $2.95 per gallon and gasoline futures dropped 6.1 cents at $2.78 per gallon. Natural gas for October delivery slid 0.4 cent to $3.87 per 1,000 cubic feet.
Nymex crude oil september 6 2011, crude oil prices september 6 2011, wil oil price down sept 6 2011, gasoline futures prices, crude oil futures prices september 6 2011, heating oil prices sept 6 2011, natural gas prices september 6 2011.
Benchmark oil for October delivery was down $3.02 to $83.43 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude last settled at $86.45 on Friday because U.S. markets were closed Monday for the Labor Day holiday.
In London, Brent crude for October delivery was steady at $110.08 on the ICE Futures exchange.
European and Asian stock markets have sunk so far this week amid growing concern a debt crisis among countries using the euro common currency will undermine economic growth there and around the world.
A stagnant U.S. jobs market is also hurting confidence. The Labor Department said Friday that U.S. employers stopped adding jobs in August and the unemployment rate remained at 9.1 percent.
"Bottom line, it's not unreasonable to suggest the U.S. is in a jobs depression," energy consultant The Schork Group said in a report.
President Barack Obama is scheduled to announce new policy measures to spark job creation in a speech Thursday.
In other Nymex trading for October contracts, heating oil fell 5.1 cents at $2.95 per gallon and gasoline futures dropped 6.1 cents at $2.78 per gallon. Natural gas for October delivery slid 0.4 cent to $3.87 per 1,000 cubic feet.
Nymex crude oil september 6 2011, crude oil prices september 6 2011, wil oil price down sept 6 2011, gasoline futures prices, crude oil futures prices september 6 2011, heating oil prices sept 6 2011, natural gas prices september 6 2011.
Friday, August 26, 2011
Oil Prices august 26 2011, Drop After Bernanke's Speech
Oil Prices august 26 2011 Drop After Bernanke's Speech : NEW YORK (TheStreet) -- Oil prices were falling Friday on signs that U.S. economic growth has essentially stalled and on Federal Reserve Chairman Ben Bernanke's failure to satisfy the markets with an announcement of further monetary easing.
Brent crude oil for December delivery was tumbling $1.25 to $108.58 a barrel and the October West Texas Intermediate (WTI) light sweet crude contract was descending $1.75 to $83.55.
Bernanke -- during his speech at the Federal Reserve symposium at Jackson Hole, Wyo. -- said the "the recovery from the crisis has been much less robust than we had hoped ... notwithstanding the severe difficulties we currently face, I do not expect the long-run growth potential of the U.S. economy to be materially affected by the crisis and the recession if -- and I stress if -- our country takes the necessary steps to secure that outcome."
But he didn't provide any specific policy measures in his speech, disappointing oil traders.
The Commerce Department said on Friday that the U.S. economy grew less than previously thought in the second quarter amid soft inventory and export numbers.
The GDP reading was downwardly revised to growth at an annual rate of 1% from the previous estimate of 1.3%. Economists, on average, thought that GDP growth would be revised to 1.1%.
The U.S., the world's biggest oil importer, grew at a mere 0.4% in the first quarter.
Matt Smith, analyst at Summit Energy, said that minor support may come back into the energy markets on the potential for Hurricane Irene to hurt refinery production on the East Coast, where roughly 8% of domestic production takes place, but much of this has already been priced in.
October natural gas futures were flat at $3.895 per million British thermal units following Thursday's in-line storage injection of 73 billion cubic feet.
Platts had said a natural gas build within analysts' expectations would be above both the year ago and five-year average injections.
"Irene has now been downgraded to a category 2 hurricane ('only' 110mph now), and is providing an immediate cooling effect on the Southeast, reducing natural gas demand," Smith added in a morning note.
On Friday, there were increased expectations that Libyan oil production would be able to resume once security issues were resolved on reports that Libyan oil and gas infrastructure have not been damaged.
Oil and gas stocks were generally falling Friday morning. EOG Resources (EOG_) was sliding 0.7% to $87.67; Apache (APA_) was tumbling 1.6% to $97.44; Chesapeake Energy (CHK_) was falling 1.4% to $29.13; Swift Energy (SFY_) was up 0.9% to $27.96; Crimson Exploration (CXPO_) was gaining 4% to $2.35; Kinder Morgan Energy Partners LP (KMP_) was down 0.2% to $67.25; and Cheniere Energy (LNG_) was adding 2.3% to $7.29.
Oil and gas stocks prices august 26 2011, gas prices august 26 2011, crude oil prices august 26 2011.
Brent crude oil for December delivery was tumbling $1.25 to $108.58 a barrel and the October West Texas Intermediate (WTI) light sweet crude contract was descending $1.75 to $83.55.
Bernanke -- during his speech at the Federal Reserve symposium at Jackson Hole, Wyo. -- said the "the recovery from the crisis has been much less robust than we had hoped ... notwithstanding the severe difficulties we currently face, I do not expect the long-run growth potential of the U.S. economy to be materially affected by the crisis and the recession if -- and I stress if -- our country takes the necessary steps to secure that outcome."
But he didn't provide any specific policy measures in his speech, disappointing oil traders.
The Commerce Department said on Friday that the U.S. economy grew less than previously thought in the second quarter amid soft inventory and export numbers.
The GDP reading was downwardly revised to growth at an annual rate of 1% from the previous estimate of 1.3%. Economists, on average, thought that GDP growth would be revised to 1.1%.
The U.S., the world's biggest oil importer, grew at a mere 0.4% in the first quarter.
Matt Smith, analyst at Summit Energy, said that minor support may come back into the energy markets on the potential for Hurricane Irene to hurt refinery production on the East Coast, where roughly 8% of domestic production takes place, but much of this has already been priced in.
October natural gas futures were flat at $3.895 per million British thermal units following Thursday's in-line storage injection of 73 billion cubic feet.
Platts had said a natural gas build within analysts' expectations would be above both the year ago and five-year average injections.
"Irene has now been downgraded to a category 2 hurricane ('only' 110mph now), and is providing an immediate cooling effect on the Southeast, reducing natural gas demand," Smith added in a morning note.
On Friday, there were increased expectations that Libyan oil production would be able to resume once security issues were resolved on reports that Libyan oil and gas infrastructure have not been damaged.
Oil and gas stocks were generally falling Friday morning. EOG Resources (EOG_) was sliding 0.7% to $87.67; Apache (APA_) was tumbling 1.6% to $97.44; Chesapeake Energy (CHK_) was falling 1.4% to $29.13; Swift Energy (SFY_) was up 0.9% to $27.96; Crimson Exploration (CXPO_) was gaining 4% to $2.35; Kinder Morgan Energy Partners LP (KMP_) was down 0.2% to $67.25; and Cheniere Energy (LNG_) was adding 2.3% to $7.29.
Oil and gas stocks prices august 26 2011, gas prices august 26 2011, crude oil prices august 26 2011.
Monday, August 22, 2011
Oil prices Jumped august 23 2011 impact Tensions in Libya
Oil prices Jumped august 23 2011 impact Tensions in Libya : Oil prices rose to above $85 a barrel Tuesday in Asia as a bid by Libyan rebels to take over Tripoli stalled and Moammar Gadhafi's whereabouts remained unknown.
Benchmark oil for October delivery was up 60 cents to $85.02 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.86 to settle at $84.12 on Monday.
In London, Brent crude for October delivery was up 47 cents to $108.83 on the ICE Futures exchange.
Crude fell in early trading Monday amid reports rebels were about to capture Tripoli and had arrested two of Gadhafi's sons. However, one of the sons, Seif al-Islam, later appeared free in front of a cheering crowd of Gadhafi supporters, putting into doubt who controlled the capital.
Analysts were also questioning how fast Libya's oil production could recover should rebels take power. Fighting since February has cut the OPEC nation's crude output to 60,000 barrels a day from 1.5 million, and the country's oil infrastructure has been damaged.
Goldman Sachs said it was sticking by its forecast that Libya's oil production will average 250,000 barrels a day next year.
"It will be challenging to bring the shut-in production back online," Goldman Sachs said in a report. "We don't change our production forecast until we have more clarity on the situation."
Other analysts are more optimistic. Libyan crude output will likely return to pre-war levels in the first half of next year, said Richard Soultanian of NUS Consulting.
"With the new regime entirely dependent on oil revenues, the momentum to get facilities operational will be overwhelming," energy consultant Cameron Hanover said in a report. "In order for this new democracy to attract enough support, it will need to get oil flowing right away."
In other Nymex trading for October contracts, heating oil rose 1.0 cent at $2.93 per gallon and gasoline futures added 1.0 cent to $2.72 per gallon. Natural gas for September delivery gained 0.1 cent to $3.89 per 1,000 cubic feet.
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Benchmark oil for October delivery was up 60 cents to $85.02 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.86 to settle at $84.12 on Monday.
In London, Brent crude for October delivery was up 47 cents to $108.83 on the ICE Futures exchange.
Crude fell in early trading Monday amid reports rebels were about to capture Tripoli and had arrested two of Gadhafi's sons. However, one of the sons, Seif al-Islam, later appeared free in front of a cheering crowd of Gadhafi supporters, putting into doubt who controlled the capital.
Analysts were also questioning how fast Libya's oil production could recover should rebels take power. Fighting since February has cut the OPEC nation's crude output to 60,000 barrels a day from 1.5 million, and the country's oil infrastructure has been damaged.
Goldman Sachs said it was sticking by its forecast that Libya's oil production will average 250,000 barrels a day next year.
"It will be challenging to bring the shut-in production back online," Goldman Sachs said in a report. "We don't change our production forecast until we have more clarity on the situation."
Other analysts are more optimistic. Libyan crude output will likely return to pre-war levels in the first half of next year, said Richard Soultanian of NUS Consulting.
"With the new regime entirely dependent on oil revenues, the momentum to get facilities operational will be overwhelming," energy consultant Cameron Hanover said in a report. "In order for this new democracy to attract enough support, it will need to get oil flowing right away."
In other Nymex trading for October contracts, heating oil rose 1.0 cent at $2.93 per gallon and gasoline futures added 1.0 cent to $2.72 per gallon. Natural gas for September delivery gained 0.1 cent to $3.89 per 1,000 cubic feet.
Nymex crude oil prices 23-8-2011, oil futures prices august 23 2011, Brent crude prices august 23 2011, oil prices predictions september 2011, oil prices forecast september 2011.
World Oil Supply and Demand forecast for 2012
World Oil Supply and Demand forecast for 2012, World oil demand forecast for 2012 : The Organization of Petroleum Exporting Countries cut its oil demand forecasts for 2011 and next year as the global economic recovery loses momentum.
World oil demand is forecast to grow by 1.36 mb/d in 2011, slightly lower than in the previous report, as the unsteady global economy has added risks to the forecast. In 2012, global oil demand is expected to grow at a slightly lower 1.32 mb/d. The global economic recovery has been facing challenges across the OECD, adding to the uncertainties to next year’s forecast. US gasoline demand is expected to be back in its normal growing mode; however it will remain a major factor affecting oil demand projections. The disruption in nuclear power generation in Japan could also increase oil consumption in the coming year.
OPEC, responsible for about 40 percent of world oil supply, reduced its consumption estimate for this year by 150,000 barrels a day. That means global demand will rise by 1.2 million a day, or 1.4 percent, to 88.1 million a day. Next year it will increase by 1.5 percent to 89.4 million, following a “minor downward revision,” the organization said today in its monthly market report.
OPEC’s 12 members boosted production by 400,000 barrels a day last month to an average of 30.07 million a day, according to the report. That’s nearly 1 million a day less than the average amount the group forecasts its members will need to provide during the third quarter. This “call on OPEC” is estimated at 31 million a day in this quarter and 30.74 million in the fourth.
OPEC trimmed its estimates for supplies from outside the organization this year, and kept them unchanged for 2012. Non- OPEC nations will bolster production by 600,000 barrels a day to 52.8 million, it said. That’s 50,000 a day less than predicted last month, as a result of lower projections for Canada, Norway, the U.K., Malaysia, Vietnam and Brazil. Next year non-OPEC nations will raise output by 730,000 a barrels a day to 53.57 million, according to the report.
world oil demand forecast for 2012, world oil demand predictions for 2013, Crude oil prices forecast 2012-2013, oil prices forecast 2012, Oil Supply 2012, Demand oil 2012.
World oil demand is forecast to grow by 1.36 mb/d in 2011, slightly lower than in the previous report, as the unsteady global economy has added risks to the forecast. In 2012, global oil demand is expected to grow at a slightly lower 1.32 mb/d. The global economic recovery has been facing challenges across the OECD, adding to the uncertainties to next year’s forecast. US gasoline demand is expected to be back in its normal growing mode; however it will remain a major factor affecting oil demand projections. The disruption in nuclear power generation in Japan could also increase oil consumption in the coming year.
OPEC, responsible for about 40 percent of world oil supply, reduced its consumption estimate for this year by 150,000 barrels a day. That means global demand will rise by 1.2 million a day, or 1.4 percent, to 88.1 million a day. Next year it will increase by 1.5 percent to 89.4 million, following a “minor downward revision,” the organization said today in its monthly market report.
OPEC’s 12 members boosted production by 400,000 barrels a day last month to an average of 30.07 million a day, according to the report. That’s nearly 1 million a day less than the average amount the group forecasts its members will need to provide during the third quarter. This “call on OPEC” is estimated at 31 million a day in this quarter and 30.74 million in the fourth.
OPEC trimmed its estimates for supplies from outside the organization this year, and kept them unchanged for 2012. Non- OPEC nations will bolster production by 600,000 barrels a day to 52.8 million, it said. That’s 50,000 a day less than predicted last month, as a result of lower projections for Canada, Norway, the U.K., Malaysia, Vietnam and Brazil. Next year non-OPEC nations will raise output by 730,000 a barrels a day to 53.57 million, according to the report.
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Brent oil prices trading down august 22 2011, as rebels enter Tripoli
Brent oil prices trading down august 22 2011, as rebels enter Tripoli ; Brent oil prices fell sharply in early trading today, currently near $105 a barrel as rebel forces advanced into the heart of Tripoli meeting little resistance, cheering and firing celebratory gunshots into the air.
Brent crude oil was down $3 as to $105.62 a barrel on early trading, while US sweet, light crude fell 0.8% to $81.57 in trading in Asia.
Latest Brent Oil Price
In London, Brent crude oil futures for October 2011 delivery was trading at $105.52 a barrel, 07.55 GMT this morning on the ICE Futures Exchange, down 3.2 percent over Friday’s closing price.
Libya, Supply and Oil Prices
As recently as 2009, Libya exported 1.5 million barrels a day, ranking it 12th in the world for crude oil exports. Libya’s output dropped to 100,000 barrels a day last month, which is less than 10 percent of the 1.59 million barrels the nation pumped in January.
Libya is a major oil exporter and has seen oil exports crushed since the popular uprisings that swept the Arab world early this year reached the North African nation.
“The immediate reaction should be that you’ll see more crude come onto the market.” said Jonathan Barratt, a managing director of Commodity Broking Services, Sydney.
“If the Gadhafi’s regime falls, Brent crude oil futures will come under downward pressure, as the Libyan oil disruption will be resolved.” said Singapore based Victor Shum, a Senior Partner at Purvin & Gertz.
Brent crude oil was down $3 as to $105.62 a barrel on early trading, while US sweet, light crude fell 0.8% to $81.57 in trading in Asia.
Latest Brent Oil Price
In London, Brent crude oil futures for October 2011 delivery was trading at $105.52 a barrel, 07.55 GMT this morning on the ICE Futures Exchange, down 3.2 percent over Friday’s closing price.
Libya, Supply and Oil Prices
As recently as 2009, Libya exported 1.5 million barrels a day, ranking it 12th in the world for crude oil exports. Libya’s output dropped to 100,000 barrels a day last month, which is less than 10 percent of the 1.59 million barrels the nation pumped in January.
Libya is a major oil exporter and has seen oil exports crushed since the popular uprisings that swept the Arab world early this year reached the North African nation.
“The immediate reaction should be that you’ll see more crude come onto the market.” said Jonathan Barratt, a managing director of Commodity Broking Services, Sydney.
“If the Gadhafi’s regime falls, Brent crude oil futures will come under downward pressure, as the Libyan oil disruption will be resolved.” said Singapore based Victor Shum, a Senior Partner at Purvin & Gertz.
Friday, August 19, 2011
Oil, gasoline, Natural gas, Price august 19 2011
Oil, gasoline, Natural gas, Price august 19 2011 ; Oil ended the day below $83 a barrel on Friday, finishing down about 4 percent for the week. That could spell more relief at the gas pump.
The national average for retail gasoline is $3.59 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's down 10 percent from this year's high of $3.98 on May 5. Gas could be around $3.25 a gallon by Labor Day and may drop as low as $3.15 by the end of the year, according to Fred Rozell, OPIS retail pricing director.
While gas may be headed lower, it's still taking a big piece out of household income. The median U.S. household income before taxes is almost $50,000 a year. In July families spent about $374 a month on gasoline, or around 9 percent of household income, according to Rozell. For the year, monthly gas expenses average about 8.4 percent, compared with 6.7 percent in 2010.
Benchmark West Texas Intermediate crude for September delivery fell 12 cents to finish at $82.26 per barrel on the New York Mercantile Exchange after earlier rising as high as $83.55 per barrel. It fell back as stocks sold off Friday afternoon. Oil traders have been watching stocks for signs about the direction of the economy.
In London, Brent crude rose $1.63 to end the day at $108.62 per barrel on the ICE Futures exchange.
Benchmark crude is still well above its lowest point in the past year. It finished at $71.63 a barrel last Aug. 24.
PFGBest analyst Phil Flynn thinks traders may have overreacted after oil fell nearly 6 percent Thursday on a batch of negative economic news. He said that traders will remain guarded until there is more clarity about where the economy may be headed.
Crude got some support Friday from a weaker dollar, which hit a new post-World War II low against the Japanese yen. Oil and other commodities are priced in dollars, so a weaker dollar makes them cheaper for traders who use other currencies. Oil lost some ground by the end of the day as the dollar got a little stronger.
In other Nymex trading for September contracts, heating oil rose 2.97 cents to finish at $2.9045 per gallon and gasoline futures added 5.08 cents to end at $2.8412 per gallon. Natural gas rose 4.8 cents to finish at $3.940 per 1,000 cubic feet.
The national average for retail gasoline is $3.59 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's down 10 percent from this year's high of $3.98 on May 5. Gas could be around $3.25 a gallon by Labor Day and may drop as low as $3.15 by the end of the year, according to Fred Rozell, OPIS retail pricing director.
While gas may be headed lower, it's still taking a big piece out of household income. The median U.S. household income before taxes is almost $50,000 a year. In July families spent about $374 a month on gasoline, or around 9 percent of household income, according to Rozell. For the year, monthly gas expenses average about 8.4 percent, compared with 6.7 percent in 2010.
Benchmark West Texas Intermediate crude for September delivery fell 12 cents to finish at $82.26 per barrel on the New York Mercantile Exchange after earlier rising as high as $83.55 per barrel. It fell back as stocks sold off Friday afternoon. Oil traders have been watching stocks for signs about the direction of the economy.
In London, Brent crude rose $1.63 to end the day at $108.62 per barrel on the ICE Futures exchange.
Benchmark crude is still well above its lowest point in the past year. It finished at $71.63 a barrel last Aug. 24.
PFGBest analyst Phil Flynn thinks traders may have overreacted after oil fell nearly 6 percent Thursday on a batch of negative economic news. He said that traders will remain guarded until there is more clarity about where the economy may be headed.
Crude got some support Friday from a weaker dollar, which hit a new post-World War II low against the Japanese yen. Oil and other commodities are priced in dollars, so a weaker dollar makes them cheaper for traders who use other currencies. Oil lost some ground by the end of the day as the dollar got a little stronger.
In other Nymex trading for September contracts, heating oil rose 2.97 cents to finish at $2.9045 per gallon and gasoline futures added 5.08 cents to end at $2.8412 per gallon. Natural gas rose 4.8 cents to finish at $3.940 per 1,000 cubic feet.
Why Gas Prices Go Up When Crude Oil Trends Down
Why Gas Prices Go Up When Crude Oil Trends Down ; Crude oil prices have been trending down lately, but you've probably noticed you don't always see the difference at the pump.
Here's why: while the price of crude oil makes up about 68 percent of the cost of a gallon of gasoline, it's not the only factor. According to oilprice.net, another 14 percent are federal and state taxes. Another 10 percent of what you pay at the pump is the cost of refining the gas. The rest are distribution and marketing costs, as well as profit margins.
While demand and supply does affect the price at the pump, the biggest influence may be speculation as retailers work keep their profit margins intact to allow for future purchases.
Here's why: while the price of crude oil makes up about 68 percent of the cost of a gallon of gasoline, it's not the only factor. According to oilprice.net, another 14 percent are federal and state taxes. Another 10 percent of what you pay at the pump is the cost of refining the gas. The rest are distribution and marketing costs, as well as profit margins.
While demand and supply does affect the price at the pump, the biggest influence may be speculation as retailers work keep their profit margins intact to allow for future purchases.
Saturday, August 13, 2011
Crude Oil prices prediction for week August 15-19 2011
Crude Oil prices prediction for week August 15-19 2011 : Crude oil prices were little changed last week, as pessimism dominated earlier in the week amid the huge uncertainty that continued to surround markets, where slowing economic activities in the United States sparked concerns the world’s largest economy is on its way to a double dip recession, while mounting fears from the European debt crisis boosted demand for lower yielding assets, which put crude oil prices under pressure and pushed prices to the lowest level since September 2010.
Nonetheless, crude oil prices rebounded to the upside after data from the United States signaled that economic activities continued to grow although at a slower pace, since many traders fear the U.S. economy is heading into another recession.
Meanwhile, the EIA report showed that crude oil inventories decreased by 5.2 million barrels below median estimates, which allowed crude oil prices to rebound to the upside later in the week.
Rising pessimism in global financial markets should put crude oil prices under more pressure over the coming period, where traders are concerned the U.S. economy is heading into a double dip recession, and since the United States is the world’s largest consumer of oil, demand for oil will fall, and that continues to weigh down on prices, while concerns from the European debt crisis will also contribute to the anticipated bearish trend over the coming period.
Highlights for this week that will probably affect the Crude Oil direction are:
Monday August 15:
The U.S. economy will start the data this week with the Empire Manufacturing for August at 12:30 which is expected to rebound to 0.50 from -3.76.
At 13:00 GMT the U.S. will release the TIC flows for June which surely were affected by the start of the debt debate before it intensified in July.
Tuesday August 16:
Germany will start the GDP day at 06:00 GMT with the expected slowing pace of expansion into the second quarter with 0.5% from 1.5% recorded in the first quarter.
The GDP data from the euro zone is due at 09:00 GMT for the second quarter and surely expectations are for slowing pace of expansion at 0.3% following 0.8% in the first quarter of the year.
Other than the critical GDP data, the focus will also be on the scheduled meeting between Merkel and Sarkozy to discuss the worsening crisis in the euro area which markets will track closely and increase the volatility.
From the United States the Housing Starts for July is due at 12:30 GMT which is expected with 3.3% drop to 608 thousand from 629 thousand.
At 12:30 GMT, Canada will release the manufacturing sales index for June, where it’s expected to drop by 0.5%, compared with the prior drop of 0.8% back in May.
At 13:15 GMT, the Industrial Production for July is expected with 0.5% rise following 0.2% while the Capacity Utilization to rise marginally to 76.9% from 76.7%.
Wednesday August 17:
At 12:30 GMT, the U.S. July Producer Price Index is due and expected to rebound with 0.1% rise on the month following 0.4% drop. Core annual PPI is expected at 2.3% following 2.4%.
At 14:30 GMT, the EIA report for crude oil inventories will be released for the week ending August 12, where last week crude oil inventories decreased by 5.2 million barrels.
Thursday August 18:
The United States at 12:30 GMT will continue with inflation data and the Consumer Price Index for July which is expected with 0.2% rise following 0.2% drop to an annual 3.3% from 3.6%. Core CPI inflation is expected with 0.2% rise in July to an annual 1.7%.
Also at 12:30 GMT the weekly jobless claims are due after last week’s unexpected decline to 395 thousand.
The busy U.S. day will continue with the leading indicator for July at 14:00 GMT and is expected to ease to 0.2% following 0.3%.
Existing home sales for July are also due at 14:00 GMT and expected with 2.7% rebound to 4.90 million from 4.77 million.
Friday August 19: No economic data is scheduled for release from the United States. (source ; CommoditiesMansion.com )
Nonetheless, crude oil prices rebounded to the upside after data from the United States signaled that economic activities continued to grow although at a slower pace, since many traders fear the U.S. economy is heading into another recession.
Meanwhile, the EIA report showed that crude oil inventories decreased by 5.2 million barrels below median estimates, which allowed crude oil prices to rebound to the upside later in the week.
Rising pessimism in global financial markets should put crude oil prices under more pressure over the coming period, where traders are concerned the U.S. economy is heading into a double dip recession, and since the United States is the world’s largest consumer of oil, demand for oil will fall, and that continues to weigh down on prices, while concerns from the European debt crisis will also contribute to the anticipated bearish trend over the coming period.
Highlights for this week that will probably affect the Crude Oil direction are:
Monday August 15:
The U.S. economy will start the data this week with the Empire Manufacturing for August at 12:30 which is expected to rebound to 0.50 from -3.76.
At 13:00 GMT the U.S. will release the TIC flows for June which surely were affected by the start of the debt debate before it intensified in July.
Tuesday August 16:
Germany will start the GDP day at 06:00 GMT with the expected slowing pace of expansion into the second quarter with 0.5% from 1.5% recorded in the first quarter.
The GDP data from the euro zone is due at 09:00 GMT for the second quarter and surely expectations are for slowing pace of expansion at 0.3% following 0.8% in the first quarter of the year.
Other than the critical GDP data, the focus will also be on the scheduled meeting between Merkel and Sarkozy to discuss the worsening crisis in the euro area which markets will track closely and increase the volatility.
From the United States the Housing Starts for July is due at 12:30 GMT which is expected with 3.3% drop to 608 thousand from 629 thousand.
At 12:30 GMT, Canada will release the manufacturing sales index for June, where it’s expected to drop by 0.5%, compared with the prior drop of 0.8% back in May.
At 13:15 GMT, the Industrial Production for July is expected with 0.5% rise following 0.2% while the Capacity Utilization to rise marginally to 76.9% from 76.7%.
Wednesday August 17:
At 12:30 GMT, the U.S. July Producer Price Index is due and expected to rebound with 0.1% rise on the month following 0.4% drop. Core annual PPI is expected at 2.3% following 2.4%.
At 14:30 GMT, the EIA report for crude oil inventories will be released for the week ending August 12, where last week crude oil inventories decreased by 5.2 million barrels.
Thursday August 18:
The United States at 12:30 GMT will continue with inflation data and the Consumer Price Index for July which is expected with 0.2% rise following 0.2% drop to an annual 3.3% from 3.6%. Core CPI inflation is expected with 0.2% rise in July to an annual 1.7%.
Also at 12:30 GMT the weekly jobless claims are due after last week’s unexpected decline to 395 thousand.
The busy U.S. day will continue with the leading indicator for July at 14:00 GMT and is expected to ease to 0.2% following 0.3%.
Existing home sales for July are also due at 14:00 GMT and expected with 2.7% rebound to 4.90 million from 4.77 million.
Friday August 19: No economic data is scheduled for release from the United States. (source ; CommoditiesMansion.com )
Tuesday, August 2, 2011
Oil prices august 2 2011 Down below $94 per barrel
Oil prices august 2 2011 Down below $94 per barrel ; Oil fell below $94 per barrel Tuesday as investors continued to worry about weaker economic growth.
Benchmark West Texas Intermediate crude for September delivery was 74 cents lower, at $94.15 per barrel in morning trading on the New York Mercantile Exchange. Earlier, it was as low as $93.75. Brent crude, which is used to price many international oil varieties, lost 43 cents at $116.38 per barrel on the ICE Futures exchange in London.
Crude has dropped for four straight trading days as oil supplies grew in the U.S., and reports on manufacturing pointed to tepid growth in the U.S. and China. PFGBest analyst Phil Flynn said if it weren't for the upcoming hurricane season and a weaker dollar, oil would be much lower.
"We should be trading $10 per barrel below where we are," Flynn said.
Traders are keeping close watch on Tropical Storm Emily, which is expected to reach Haiti within a day. Storms that move into the Gulf of Mexico can disrupt the network of oil production platforms and pipelines in the area and force oil companies to evacuate personnel. That slows down production operations and cuts into U.S. supplies, so prices tend to rise. Current forecasts have Emily staying in the Atlantic, away from the Gulf and on a path for Florida and the Southeast U.S.
Analyst Addison Armstrong noted that about 2.3 percent of oil production and 1 percent of natural gas production in the Gulf of Mexico remains temporarily shut down after Tropical Storm Don swept through the Gulf last week.
Benchmark West Texas Intermediate crude for September delivery was 74 cents lower, at $94.15 per barrel in morning trading on the New York Mercantile Exchange. Earlier, it was as low as $93.75. Brent crude, which is used to price many international oil varieties, lost 43 cents at $116.38 per barrel on the ICE Futures exchange in London.
Crude has dropped for four straight trading days as oil supplies grew in the U.S., and reports on manufacturing pointed to tepid growth in the U.S. and China. PFGBest analyst Phil Flynn said if it weren't for the upcoming hurricane season and a weaker dollar, oil would be much lower.
"We should be trading $10 per barrel below where we are," Flynn said.
Traders are keeping close watch on Tropical Storm Emily, which is expected to reach Haiti within a day. Storms that move into the Gulf of Mexico can disrupt the network of oil production platforms and pipelines in the area and force oil companies to evacuate personnel. That slows down production operations and cuts into U.S. supplies, so prices tend to rise. Current forecasts have Emily staying in the Atlantic, away from the Gulf and on a path for Florida and the Southeast U.S.
Analyst Addison Armstrong noted that about 2.3 percent of oil production and 1 percent of natural gas production in the Gulf of Mexico remains temporarily shut down after Tropical Storm Don swept through the Gulf last week.
Sunday, July 24, 2011
Asian stocks and oil declined July 25 2011, Barack Obama and Congress failed to reach a deal on raising the debt limit
Asian stocks and oil declined July 25 2011, Barack Obama and Congress failed to reach a deal on raising the debt limit - U.S. Economy Prediction july 2011 ; Asian stocks and oil declined for the first time in five days, while Treasuries dropped and gold rallied to a record as President Barack Obama and Congress failed to reach a deal on raising the debt limit, intensifying concern the nation will default.
The MSCI Asia Pacific Index slipped 0.7 percent as of 11:31 a.m. in Tokyo. Standard & Poor’s 500 Index futures lost 0.9 percent to 1,328.30. Yields on 10-year Treasuries gained three basis points. The dollar sank 0.7 percent against the Swiss franc. It traded at 78.47 yen after earlier reaching a four- month low. Gold added as much as 1.4 percent to $1,624.07 an ounce. Oil fell 0.9 percent in New York.
U.S. House Speaker John Boehner told Republicans that there’s no agreement on a plan for raising the ceiling before a default threatened for Aug. 2, risking a cut to the nation’s AAA credit rating. As Democrats and Republicans endorsed dueling plans for raising the debt ceiling, China, the top holder of American debt, said it remains confident an agreement will be reached before the deadline, according to Xia Bin, an adviser to the People’s Bank of China.
“Stock markets around the globe will look to price in a greater uncertainty premium on account of political squabbles in the world’s largest economy and the increasing risk that it may lose its sacred AAA rating,” Mohamed A. El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co., wrote in an e-mail. His firm is the world’s biggest manager of bond funds. “A last-minute political compromise will avoid a default but will leave the AAA rating extremely vulnerable,” he said.
U.S. Economy Prediction july 2011
The impasse may further aggravate the slowing U.S. recovery. The Commerce Department may say on July 29 gross domestic product rose at a 1.8 percent annual pace in the second quarter after a 1.9 percent gain in the previous three months, according to the median forecast of 69 economist surveyed by Bloomberg News. Home sales languished and consumer confidence dimmed, other data may show.
The dollar fell 0.7 percent to 81.38 Swiss centimes from 81.92 last week. It earlier fell to 78.12 yen, the weakest level since March 17. Japan’s monetary authorities “will take resolute actions when necessary” in the currency markets, Kyodo News reported Finance Minister Yoshihiko Noda as saying yesterday. Noda said today that he’s watching developments on the U.S. debt talks.
The Australian dollar weakened against 13 of its 16 most- actively traded counterparts and fell 0.5 percent to 84.86 yen as speculation that the U.S. may default sapped demand for higher-yielding assets. South Korea’s won retreated from a three-year high, dropping 0.1 percent to 1,053.48 per dollar.
Oil retreated to $99.04 a barrel on the New York Mercantile Exchange, following four straight weeks of gains. Immediate- delivery gold traded at $1,611.16 an ounce, up 0.6 percent, while cash silver rose 0.6 percent to $40.3237 an ounce. Corn for December delivery sank 1.9 percent to $6.7225 a bushel, while wheat slid 1.5 percent to $6.82 a bushel.
The MSCI Asia Pacific Index slipped 0.7 percent as of 11:31 a.m. in Tokyo. Standard & Poor’s 500 Index futures lost 0.9 percent to 1,328.30. Yields on 10-year Treasuries gained three basis points. The dollar sank 0.7 percent against the Swiss franc. It traded at 78.47 yen after earlier reaching a four- month low. Gold added as much as 1.4 percent to $1,624.07 an ounce. Oil fell 0.9 percent in New York.
U.S. House Speaker John Boehner told Republicans that there’s no agreement on a plan for raising the ceiling before a default threatened for Aug. 2, risking a cut to the nation’s AAA credit rating. As Democrats and Republicans endorsed dueling plans for raising the debt ceiling, China, the top holder of American debt, said it remains confident an agreement will be reached before the deadline, according to Xia Bin, an adviser to the People’s Bank of China.
“Stock markets around the globe will look to price in a greater uncertainty premium on account of political squabbles in the world’s largest economy and the increasing risk that it may lose its sacred AAA rating,” Mohamed A. El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co., wrote in an e-mail. His firm is the world’s biggest manager of bond funds. “A last-minute political compromise will avoid a default but will leave the AAA rating extremely vulnerable,” he said.
U.S. Economy Prediction july 2011
The impasse may further aggravate the slowing U.S. recovery. The Commerce Department may say on July 29 gross domestic product rose at a 1.8 percent annual pace in the second quarter after a 1.9 percent gain in the previous three months, according to the median forecast of 69 economist surveyed by Bloomberg News. Home sales languished and consumer confidence dimmed, other data may show.
The dollar fell 0.7 percent to 81.38 Swiss centimes from 81.92 last week. It earlier fell to 78.12 yen, the weakest level since March 17. Japan’s monetary authorities “will take resolute actions when necessary” in the currency markets, Kyodo News reported Finance Minister Yoshihiko Noda as saying yesterday. Noda said today that he’s watching developments on the U.S. debt talks.
The Australian dollar weakened against 13 of its 16 most- actively traded counterparts and fell 0.5 percent to 84.86 yen as speculation that the U.S. may default sapped demand for higher-yielding assets. South Korea’s won retreated from a three-year high, dropping 0.1 percent to 1,053.48 per dollar.
Oil retreated to $99.04 a barrel on the New York Mercantile Exchange, following four straight weeks of gains. Immediate- delivery gold traded at $1,611.16 an ounce, up 0.6 percent, while cash silver rose 0.6 percent to $40.3237 an ounce. Corn for December delivery sank 1.9 percent to $6.7225 a bushel, while wheat slid 1.5 percent to $6.82 a bushel.
Friday, July 22, 2011
Crude oil futures prices outlook july 22 2011
Crude oil futures prices outlook july 22 2011 ; Crude oil futures prices were slightly weaker Friday after a run to triple digits stalled out Friday amid anticipation of coming increases in U.S. petroleum inventories.
Traders said that without fresh U.S. economic data on Friday's calendar, interest was thin, with players reassessing positions after prices rose to a seven-week high above $100 a barrel on Thursday, but failed to settle above that level.
The euro held much of its strong gains made against the dollar on Thursday after a new bailout plan for Greece buoyed the outlook for euro zone economies. Normally weakness in the dollar would spark buying interest in dollar-denominated commodities like oil by investors using other currencies. But traders said a weaker tone in U.S. stock index futures Friday, on the heels of the highest close in the Dow Jones Industrial Average, after the highest close since May 10, was keeping oil buyers at bay.
Light, sweet crude oil futures for September delivery on the New York Mercantile Exchange was 40 cents lower at $98.73 a barrel, after trading in a range of $98.43 to $99.83 a barrel. ICE September Brent crude was 22 cents higher, at $117.73 a barrel.
Deliveries of some 30.64 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve have begun and are expected to begin showing up in weekly oil inventory data in coming weeks, traders said. Some 8.7 million barrels of the crude is expected to ship by the end of July and begin refilling stocks which fell by 22 million barrels over the past seven weeks.
The market was buoyed by news Thursday that the International Energy Agency doesn't now plan a further oil sale beyond the current move, which released 60 million barrels into the market, the bulk of which came from the U.S. The IEA said the release, needed to cover oil supplies lost as a result of the ongoing Libyan civil war, and higher output from the Organization of Petroleum Exporting Countries, has improved the supply outlook for the second half of the year.
But those barrels will be arriving at refineries as demand for key petroleum products like gasoline remains weak amid rising prices in the peak summer demand season. U.S. data show demand of just over 9 million barrels a day in the week ended July 15 was more than 400,000 barrels a day below a year ago. AAA Daily Fuel Gauge reports said Friday the national average retail price for regular gasoline was $3.695 a gallon, up 2.8 cents from a week earlier.
Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill., said the SPR oil could cause a counter-seasonal rise in crude stocks, especially in the main Gulf Coast refining region.
Still, he said that Thursday's push to $100 a barrel intraday appears to have stirred new commodity fund buying interest which could spark further gains next week, especially if the White House and Congressional leaders can hammer out an agreement on the U.S. debt. In the near-term, Ritterbusch said crude is likely to follow the lead of the stock market.
August-delivery reformulated gasoline futures were 0.88 cent higher at $3.1083 a gallon, while August heating oil futures were 1.08 cent higher at $3.11 a gallon.
Traders said that without fresh U.S. economic data on Friday's calendar, interest was thin, with players reassessing positions after prices rose to a seven-week high above $100 a barrel on Thursday, but failed to settle above that level.
The euro held much of its strong gains made against the dollar on Thursday after a new bailout plan for Greece buoyed the outlook for euro zone economies. Normally weakness in the dollar would spark buying interest in dollar-denominated commodities like oil by investors using other currencies. But traders said a weaker tone in U.S. stock index futures Friday, on the heels of the highest close in the Dow Jones Industrial Average, after the highest close since May 10, was keeping oil buyers at bay.
Light, sweet crude oil futures for September delivery on the New York Mercantile Exchange was 40 cents lower at $98.73 a barrel, after trading in a range of $98.43 to $99.83 a barrel. ICE September Brent crude was 22 cents higher, at $117.73 a barrel.
Deliveries of some 30.64 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve have begun and are expected to begin showing up in weekly oil inventory data in coming weeks, traders said. Some 8.7 million barrels of the crude is expected to ship by the end of July and begin refilling stocks which fell by 22 million barrels over the past seven weeks.
The market was buoyed by news Thursday that the International Energy Agency doesn't now plan a further oil sale beyond the current move, which released 60 million barrels into the market, the bulk of which came from the U.S. The IEA said the release, needed to cover oil supplies lost as a result of the ongoing Libyan civil war, and higher output from the Organization of Petroleum Exporting Countries, has improved the supply outlook for the second half of the year.
But those barrels will be arriving at refineries as demand for key petroleum products like gasoline remains weak amid rising prices in the peak summer demand season. U.S. data show demand of just over 9 million barrels a day in the week ended July 15 was more than 400,000 barrels a day below a year ago. AAA Daily Fuel Gauge reports said Friday the national average retail price for regular gasoline was $3.695 a gallon, up 2.8 cents from a week earlier.
Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill., said the SPR oil could cause a counter-seasonal rise in crude stocks, especially in the main Gulf Coast refining region.
Still, he said that Thursday's push to $100 a barrel intraday appears to have stirred new commodity fund buying interest which could spark further gains next week, especially if the White House and Congressional leaders can hammer out an agreement on the U.S. debt. In the near-term, Ritterbusch said crude is likely to follow the lead of the stock market.
August-delivery reformulated gasoline futures were 0.88 cent higher at $3.1083 a gallon, while August heating oil futures were 1.08 cent higher at $3.11 a gallon.
ETFs ideas with decent Bakken Shale exposure
ETFs ideas with decent Bakken Shale exposure ; The Bakken Shale is one of the energy sector's hottest buzzwords these days and with good reason. Most U.S. shale plays are rich in natural gas, but not so much in oil. The north side of the Eagleford Shale in South Texas, which we proffered up some ETF plays on several weeks ago, is certainly oily, but the undisputed king of U.S. oil shale plays is the Bakken Shale.
Most of the Bakken's oil reserves, which are estimated to be 4.3 billion barrels, are found in North Dakota and that has helped the rural state sport one of the lowest unemployment rates in the U.S. and climb to fourth among the top oil-producing states.
If current production levels hold, North Dakota could jump California and Alaska to take the number two spot behind Texas within the next decade, according to the Wall Street Journal.
That's good news for North Dakota and even better news for investors is that they don't need to invest in speculative pump-and-dump penny stocks to gain Bakken exposure. Here are some ETF ideas with decent Bakken Shale exposure.
1) SPDR Energy Select Sector SPDR (NYSE: XLE): Yes, XLE is heavily allocated to traditional integrated oil names, but it is a relevant Bakken play as EOG Resources (NYSE: EOG [FREE Stock Trend Analysis]) and Hess (NYSE: HES) are two of the biggest Bakken players and Chesapeake Energy (NYSE: CHK) has some Bakken acreage as well. Beyond the producers, XLE's exposure to Halliburton (NYSE: HAL [FREE Stock Trend Analysis]) and National Oilwell Varco (NYSE: NOV) is significant because those two will be among the companies providing oilfield services in Bakken.
2) SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP): Given XOP's exposure to a broad swath of E&P companies, the ETF is a legitimate candidate to make any list of ETF shale plays and it did make an appearance on our Eagleford list. Even with that, XOP is a legit Bakken play because it is one of a just few ETFs that offer exposure to Brigham Exploration (Nasdaq: BEXP [FREE Stock Trend Analysis]) and Whiting Petroleum (NYSE: WTL), two of the biggest Bakken players. Hess and Chesapeake also find homes here.
3) iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (NYSE: IEO): XOP's chief rival, IEO features EOG and Chesapeake in its top six holdings with the largest weight to EOG of any ETF. Brigham and Whiting are also found here, and albeit slight, IEO does at least offer some exposure to Continental Resources (NYSE: CLR), another big Bakken name.
4) PowerShares Dynamic Energy Exploration & Production Portfolio (NYSE: PXE [FREE Stock Trend Analysis]): As several of the above ETFs do, PXE features weights to Marathon Oil (NYSE: MRO) and Murphy Oil (NYSE: MUR), which have significant Bakken acreage, but those two names combine for over PXE's weight, making this a sound Bakken option.
Most of the Bakken's oil reserves, which are estimated to be 4.3 billion barrels, are found in North Dakota and that has helped the rural state sport one of the lowest unemployment rates in the U.S. and climb to fourth among the top oil-producing states.
If current production levels hold, North Dakota could jump California and Alaska to take the number two spot behind Texas within the next decade, according to the Wall Street Journal.
That's good news for North Dakota and even better news for investors is that they don't need to invest in speculative pump-and-dump penny stocks to gain Bakken exposure. Here are some ETF ideas with decent Bakken Shale exposure.
1) SPDR Energy Select Sector SPDR (NYSE: XLE): Yes, XLE is heavily allocated to traditional integrated oil names, but it is a relevant Bakken play as EOG Resources (NYSE: EOG [FREE Stock Trend Analysis]) and Hess (NYSE: HES) are two of the biggest Bakken players and Chesapeake Energy (NYSE: CHK) has some Bakken acreage as well. Beyond the producers, XLE's exposure to Halliburton (NYSE: HAL [FREE Stock Trend Analysis]) and National Oilwell Varco (NYSE: NOV) is significant because those two will be among the companies providing oilfield services in Bakken.
2) SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP): Given XOP's exposure to a broad swath of E&P companies, the ETF is a legitimate candidate to make any list of ETF shale plays and it did make an appearance on our Eagleford list. Even with that, XOP is a legit Bakken play because it is one of a just few ETFs that offer exposure to Brigham Exploration (Nasdaq: BEXP [FREE Stock Trend Analysis]) and Whiting Petroleum (NYSE: WTL), two of the biggest Bakken players. Hess and Chesapeake also find homes here.
3) iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (NYSE: IEO): XOP's chief rival, IEO features EOG and Chesapeake in its top six holdings with the largest weight to EOG of any ETF. Brigham and Whiting are also found here, and albeit slight, IEO does at least offer some exposure to Continental Resources (NYSE: CLR), another big Bakken name.
4) PowerShares Dynamic Energy Exploration & Production Portfolio (NYSE: PXE [FREE Stock Trend Analysis]): As several of the above ETFs do, PXE features weights to Marathon Oil (NYSE: MRO) and Murphy Oil (NYSE: MUR), which have significant Bakken acreage, but those two names combine for over PXE's weight, making this a sound Bakken option.
Thursday, July 21, 2011
best ways to invest in gasoline and oil prices
best ways to invest in gasoline and oil prices : The energy department reported today that US stockpiles of gasoline fell for the first time in seven weeks. According to Bloomberg Gasoline Supplies dropped 460,000 barrels in the week ending June 17 this well above the median forecast of 17 analysts surveyed by Bloomberg News which actually predicted a gain of 1 million barrels.
Also Gasoline imports slid 22 percent to an average 867,000 barrels a day, the fewest in five weeks. This news plus the upcoming 4th of July Holiday, should drive gasoline prices higher in the short run.
One of the best ways to invest in gasoline is in the fuel itself through the U.S. Gasoline Fund (UGA). The United States Gasoline Fund is a commodity based ETF that invests exclusively in gasoline futures contracts.
UGA has an expense ratio of 0.60%. As of yesterday’s close UGA is trading at a -0.21% discount to its Net Asset Value and is currently up more than 20% year to date. Currently the gasoline market is in backwardation which is bullish for the commodity and the gasoline ETF UGA.
(One disadvantage of commodity based ETF’s is that they can be susceptible to “roll yield”. Roll yield is the positive or negative return that occurs when a futures index or ETF rolls from the current month’s contract to the next month’s contract.
The roll yield is positive when the futures market is in backwardation and negative when the futures market is in contango. Basically if the current month’s future has a higher price than the next nearest month, this is backwardation and it is a bullish sign for the commodity.
Conversely if the current months futures contract has a lower price than the next nearest month, the market is in contango it is a bearish for that commodity, and it produces a negative roll yield which indirectly hurts the shareholders of ETF’s that are in contango.) A negative roll return is the percentage cost that investors incur by holding an ETF that holds futures contracts that are have a negative roll yield and has a market in backwardation.
So basically anyone who owns an ETF such as the heating oil ETF UHN above is losing a -.67% each month regardless of the ETF’s price movement and therefore has to make a .67% return to just break even.)
Bearish Signs For Crude and Heating Oil Oil inventories declined less than analysts expected and oil supplies increased by 38 million barrels the first gain in four weeks, all of which is a short term bearish sign for the price of oil.
The most direct way to invest in the price of oil is through the US Oil Fund (USO), a commodity based ETF that mainly holds crude oil futures contracts. USO has an expense ratio of 0.45%. As of yesterday’s close USO was trading at a -0.46% discount to its Net Asset Value and USO is currently up more than 9.2% year to date.
Heating oil demand was also week as supplies for heating oil increased to a five week high, a short term bearish sign for the price of heating oil. The most direct way to invest in heating oil is through the US Heating OIL Fund (UHN) a commodity based ETF that mainly holds heating oil futures contracts. UHN has an expense ratio of 0.60%. As of yesterday’s close UHN was trading at a -0.57% discount to its Net Asset Value and UHN is currently up more than 21% year to date.(source http://www.zacks.com)
Also Gasoline imports slid 22 percent to an average 867,000 barrels a day, the fewest in five weeks. This news plus the upcoming 4th of July Holiday, should drive gasoline prices higher in the short run.
One of the best ways to invest in gasoline is in the fuel itself through the U.S. Gasoline Fund (UGA). The United States Gasoline Fund is a commodity based ETF that invests exclusively in gasoline futures contracts.
UGA has an expense ratio of 0.60%. As of yesterday’s close UGA is trading at a -0.21% discount to its Net Asset Value and is currently up more than 20% year to date. Currently the gasoline market is in backwardation which is bullish for the commodity and the gasoline ETF UGA.
(One disadvantage of commodity based ETF’s is that they can be susceptible to “roll yield”. Roll yield is the positive or negative return that occurs when a futures index or ETF rolls from the current month’s contract to the next month’s contract.
The roll yield is positive when the futures market is in backwardation and negative when the futures market is in contango. Basically if the current month’s future has a higher price than the next nearest month, this is backwardation and it is a bullish sign for the commodity.
Conversely if the current months futures contract has a lower price than the next nearest month, the market is in contango it is a bearish for that commodity, and it produces a negative roll yield which indirectly hurts the shareholders of ETF’s that are in contango.) A negative roll return is the percentage cost that investors incur by holding an ETF that holds futures contracts that are have a negative roll yield and has a market in backwardation.
So basically anyone who owns an ETF such as the heating oil ETF UHN above is losing a -.67% each month regardless of the ETF’s price movement and therefore has to make a .67% return to just break even.)
Bearish Signs For Crude and Heating Oil Oil inventories declined less than analysts expected and oil supplies increased by 38 million barrels the first gain in four weeks, all of which is a short term bearish sign for the price of oil.
The most direct way to invest in the price of oil is through the US Oil Fund (USO), a commodity based ETF that mainly holds crude oil futures contracts. USO has an expense ratio of 0.45%. As of yesterday’s close USO was trading at a -0.46% discount to its Net Asset Value and USO is currently up more than 9.2% year to date.
Heating oil demand was also week as supplies for heating oil increased to a five week high, a short term bearish sign for the price of heating oil. The most direct way to invest in heating oil is through the US Heating OIL Fund (UHN) a commodity based ETF that mainly holds heating oil futures contracts. UHN has an expense ratio of 0.60%. As of yesterday’s close UHN was trading at a -0.57% discount to its Net Asset Value and UHN is currently up more than 21% year to date.(source http://www.zacks.com)
Oil prices up july 21 2011 on IEA decision, US data, Greece optimism
Oil prices up july 21 2011 on IEA decision, US data, Greece optimism : For the first time in more than a month, WTI crude oil has touched the $100/barrel mark after falling below $91/barrel in mid-June. The move is likely the result of yesterday’s EIA report that inventories had fallen by 3.7 million barrels. Does this indicate a move back toward $90/barrel or up toward $110/barrel?
The drop to near $90/barrel followed the IEA’s announcement of a 60 million barrel release from the strategic petroleum reserves of it member countries, including a 30 million barrel release from the US Strategic Petroleum Reserve. Ostensibly a reaction to the loss of Libyan production and an attempt to inject some elasticity of supply back into the market, the release was widely seen as an attempt to lower pump prices for consumers.
Oil rose for a third straight session on Thursday, lifted by upbeat U.S. economic data, signs of a deal to bailout Greece and confirmation the International Energy Agency would not release more emergency stocks for now.
The market shook off early losses caused by weak economic data from China and turned positive as euro zone leaders were set to give their financial rescue fund new powers to help Greece overcome its debt crisis, easing concerns that have weighed on oil and other markets in recent weeks.
Further support came from upbeat data showing factory activity in the U.S. Mid-Atlantic region bounced back in July, as well as news members of the IEA decided against releasing more oil stockpiles despite the threat of high prices to the economic recover.
The IEA shocked oil markets in June, announcing it would release 60 million barrels of oil to help replace disruptions of Libyan supply and bring down prices. Prices initially plunged, but in the month since the announcement, Brent prices have climbed back more than $10 a barrel.
Brent LCOc1 traded up 23 cents to $118.38 a barrel at 11:11 a.m. EDT (1522 GMT). U.S. crude CLc1 rose $1.21 to $99.61 a barrel after topping $100 a barrel for the first time since June 10
The drop to near $90/barrel followed the IEA’s announcement of a 60 million barrel release from the strategic petroleum reserves of it member countries, including a 30 million barrel release from the US Strategic Petroleum Reserve. Ostensibly a reaction to the loss of Libyan production and an attempt to inject some elasticity of supply back into the market, the release was widely seen as an attempt to lower pump prices for consumers.
Oil rose for a third straight session on Thursday, lifted by upbeat U.S. economic data, signs of a deal to bailout Greece and confirmation the International Energy Agency would not release more emergency stocks for now.
The market shook off early losses caused by weak economic data from China and turned positive as euro zone leaders were set to give their financial rescue fund new powers to help Greece overcome its debt crisis, easing concerns that have weighed on oil and other markets in recent weeks.
Further support came from upbeat data showing factory activity in the U.S. Mid-Atlantic region bounced back in July, as well as news members of the IEA decided against releasing more oil stockpiles despite the threat of high prices to the economic recover.
The IEA shocked oil markets in June, announcing it would release 60 million barrels of oil to help replace disruptions of Libyan supply and bring down prices. Prices initially plunged, but in the month since the announcement, Brent prices have climbed back more than $10 a barrel.
Brent LCOc1 traded up 23 cents to $118.38 a barrel at 11:11 a.m. EDT (1522 GMT). U.S. crude CLc1 rose $1.21 to $99.61 a barrel after topping $100 a barrel for the first time since June 10
Wednesday, July 20, 2011
Oil and Natural Gas prediction July 2011
Oil and Natural Gas prediction July 2011, crude oil prices prediction july 2011, natural gas forecas july 2011 : The improving economic scene – both here in the U.S. as well as worldwide – and the continued unrest in producing countries had been the main driver of the oil rally, which saw the commodity zoom past the $110 per barrel level earlier this year.
However, apprehensions about high U.S. crude stocks, the release of emergency oil supplies from government-held strategic reserves into the world market, and uncertainty over oil supply disruptions in the Middle East have been weighing on investor sentiment, weakening oil prices to less than $100 a barrel.
But far too many factors weigh on oil prices to definitively size up each one of them for their respective impact on prices. Some of those factors include OPEC decisions, geostrategic tensions the value of the U.S. dollar and seasonal variables, etc.
As per the latest release by the Energy Information Administration (EIA), crude supplies are higher than the year-earlier level and are above the upper limit of the average for this time of the year. This has led to domestic demand concerns against a backdrop of persistently slow job growth. At the same time, global oil consumption is expected to grow at a healthy rate this year, buoyed by the continued strength in the major emerging market economies.
As such, crude oil’s near-term fundamentals remain patchy to say the least. The long-term outlook for oil, however, remains favorable, given the commodity’s constrained supply picture.
According to the EIA, world crude consumption grew by an estimated 2.2 million barrels per day in 2010 to 86.6 million barrels per day, which more than made up for the losses of the previous 2 years and surpassed the 2007 level of 86.3 million barrels per day (reached prior to the economic downturn). One might note that global demand for 2009 was below the 2008 level, which itself was below the 2007 level – the first time since the early 1980s of two back-to-back negative growth years.
The agency added that average global consumption growth over the next 2 years is likely to return to rates seen before the onset of the global downturn in 2008. The EIA, in its Short-Term Energy Outlook, said that it expects the current economic recovery to contribute towards global oil demand growth of 1.4 million barrels per day in 2011 and 1.6 million barrels per day in 2012. However, the EIA’s most recent demand growth forecast for 2011 is 270,000 barrels per day, lower than in the earlier version, as the agency sees world economic growth lagging expectations.
Recently, the Organization of Petroleum Exporting Countries (OPEC) – the oil cartel that supplies around 40% of the world’s crude – also trimmed its 2011 world oil demand outlook, citing the unsteady global economy that has added risks to the forecast. OPEC predicts that global oil demand will increase by 1.36 million barrels per day annually, reaching 88.18 million barrels a day in 2011 from last year’s 86.82 million barrels a day. The organization’s current estimate for 2011 is lower by a marginal 20,000 barrels a day from its last report, issued in June 2011. In 2012, OPEC expects global oil demand to grow at a slightly lower 1.32 million barrels per day.
However, the third major energy consultative body, the Paris-based International Energy Agency (IEA), forecasted marginally stronger-than-previously-anticipated global oil demand in 2011. In its latest ‘Oil Market Report’, the IEA, an energy-monitoring body of 28 industrialized countries, said it expects world oil demand to grow by 1.2 million barrels per day in 2011, reflecting an upward revision of 200,000 barrels a day over the previous assessment, mainly driven by the non-OECD (Organization for Economic Cooperation and Development) economies. The agency – in its first 2012 forecast in a monthly report – added that global oil demand next year is expected to rise by 1.5 million barrels per day year-over-year to a hefty 91.0 million barrels per day.
We expect crude oil to trade in the $100-$110 per barrel range in the near future, supported by the continued tightening of world oil markets. But this does not mean that we will not see any short-term pullbacks. On the whole, we expect oil prices in 2011 to be higher than 2010 levels, but remain significantly below 2008 peak levels.
Natural Gas Outlook july 2011
A supply glut pressured natural gas futures for much of 2010, as production from dense rock formations (shale) remain robust, thereby overwhelming demand.
As per the U.S. Energy Department, domestic gas output increased significantly in 2010 by an estimated 2.4 billion cubic feet per day, or 4.1%, as production declines in Alaska and the Gulf of Mexico were offset by a healthy increase in lower-48 onshore volumes. Storage amounts hit a record high of 3.840 trillion cubic feet in November, while gas prices during the year fell 21%.
However, stocks of the commodity slid approximately 2.261 trillion cubic feet (Tcf) during the five-month period (November 5, 2010 to April 1, 2011) on the back of a colder-than-normal end to this past winter, production freeze-offs in January/February and the steadily declining rig count. These factors cut into the U.S. supply overhang, thereby creating a deficit in natural gas inventories after erasing the hefty surplus over last year’s inventory level and the five-year average level.
But with the end of the winter’s peak in heating demand, natural gas prices continue to be under pressure against the backdrop of sustained strong production. Producers are now hoping that the gap between supply and demand will further narrow in the coming months as they bet on a hotter-than-expected summer and an active hurricane season.
Looking forward, the EIA expects average total production to rise by 5.8% in 2011 and by 0.9% in 2012, while total natural gas consumption is anticipated to grow by 2.0% this year and decline slightly (by 0.2%) during the next year.
We believe these supply/demand dynamics – the projected lower production growth and almost flat consumption – will lead to the strengthening of natural gas prices in 2012.
But until then the weak fundamentals are going to continue to weigh on natural gas prices, translating into limited upside for natural gas-weighted companies and related support plays. (source www.stockbloghub.com )
However, apprehensions about high U.S. crude stocks, the release of emergency oil supplies from government-held strategic reserves into the world market, and uncertainty over oil supply disruptions in the Middle East have been weighing on investor sentiment, weakening oil prices to less than $100 a barrel.
But far too many factors weigh on oil prices to definitively size up each one of them for their respective impact on prices. Some of those factors include OPEC decisions, geostrategic tensions the value of the U.S. dollar and seasonal variables, etc.
As per the latest release by the Energy Information Administration (EIA), crude supplies are higher than the year-earlier level and are above the upper limit of the average for this time of the year. This has led to domestic demand concerns against a backdrop of persistently slow job growth. At the same time, global oil consumption is expected to grow at a healthy rate this year, buoyed by the continued strength in the major emerging market economies.
As such, crude oil’s near-term fundamentals remain patchy to say the least. The long-term outlook for oil, however, remains favorable, given the commodity’s constrained supply picture.
According to the EIA, world crude consumption grew by an estimated 2.2 million barrels per day in 2010 to 86.6 million barrels per day, which more than made up for the losses of the previous 2 years and surpassed the 2007 level of 86.3 million barrels per day (reached prior to the economic downturn). One might note that global demand for 2009 was below the 2008 level, which itself was below the 2007 level – the first time since the early 1980s of two back-to-back negative growth years.
The agency added that average global consumption growth over the next 2 years is likely to return to rates seen before the onset of the global downturn in 2008. The EIA, in its Short-Term Energy Outlook, said that it expects the current economic recovery to contribute towards global oil demand growth of 1.4 million barrels per day in 2011 and 1.6 million barrels per day in 2012. However, the EIA’s most recent demand growth forecast for 2011 is 270,000 barrels per day, lower than in the earlier version, as the agency sees world economic growth lagging expectations.
Recently, the Organization of Petroleum Exporting Countries (OPEC) – the oil cartel that supplies around 40% of the world’s crude – also trimmed its 2011 world oil demand outlook, citing the unsteady global economy that has added risks to the forecast. OPEC predicts that global oil demand will increase by 1.36 million barrels per day annually, reaching 88.18 million barrels a day in 2011 from last year’s 86.82 million barrels a day. The organization’s current estimate for 2011 is lower by a marginal 20,000 barrels a day from its last report, issued in June 2011. In 2012, OPEC expects global oil demand to grow at a slightly lower 1.32 million barrels per day.
However, the third major energy consultative body, the Paris-based International Energy Agency (IEA), forecasted marginally stronger-than-previously-anticipated global oil demand in 2011. In its latest ‘Oil Market Report’, the IEA, an energy-monitoring body of 28 industrialized countries, said it expects world oil demand to grow by 1.2 million barrels per day in 2011, reflecting an upward revision of 200,000 barrels a day over the previous assessment, mainly driven by the non-OECD (Organization for Economic Cooperation and Development) economies. The agency – in its first 2012 forecast in a monthly report – added that global oil demand next year is expected to rise by 1.5 million barrels per day year-over-year to a hefty 91.0 million barrels per day.
We expect crude oil to trade in the $100-$110 per barrel range in the near future, supported by the continued tightening of world oil markets. But this does not mean that we will not see any short-term pullbacks. On the whole, we expect oil prices in 2011 to be higher than 2010 levels, but remain significantly below 2008 peak levels.
Natural Gas Outlook july 2011
A supply glut pressured natural gas futures for much of 2010, as production from dense rock formations (shale) remain robust, thereby overwhelming demand.
As per the U.S. Energy Department, domestic gas output increased significantly in 2010 by an estimated 2.4 billion cubic feet per day, or 4.1%, as production declines in Alaska and the Gulf of Mexico were offset by a healthy increase in lower-48 onshore volumes. Storage amounts hit a record high of 3.840 trillion cubic feet in November, while gas prices during the year fell 21%.
However, stocks of the commodity slid approximately 2.261 trillion cubic feet (Tcf) during the five-month period (November 5, 2010 to April 1, 2011) on the back of a colder-than-normal end to this past winter, production freeze-offs in January/February and the steadily declining rig count. These factors cut into the U.S. supply overhang, thereby creating a deficit in natural gas inventories after erasing the hefty surplus over last year’s inventory level and the five-year average level.
But with the end of the winter’s peak in heating demand, natural gas prices continue to be under pressure against the backdrop of sustained strong production. Producers are now hoping that the gap between supply and demand will further narrow in the coming months as they bet on a hotter-than-expected summer and an active hurricane season.
Looking forward, the EIA expects average total production to rise by 5.8% in 2011 and by 0.9% in 2012, while total natural gas consumption is anticipated to grow by 2.0% this year and decline slightly (by 0.2%) during the next year.
We believe these supply/demand dynamics – the projected lower production growth and almost flat consumption – will lead to the strengthening of natural gas prices in 2012.
But until then the weak fundamentals are going to continue to weigh on natural gas prices, translating into limited upside for natural gas-weighted companies and related support plays. (source www.stockbloghub.com )
Oil prices rose on july 20 2011, after news that US crude stocks slumped
Oil prices rose on july 20 2011, after news that US crude stocks slumped : Oil prices rose on Wednesday after news that US crude stocks slumped last week, signalling strengthening energy demand in the world's biggest economy.
New York's main contract, light sweet crude for August delivery advanced 69 cents to $98.19 a barrel. Brent North Sea crude for September delivery added 99 cents to $118.05.
US crude oil inventories tumbled 3.7 million barrels in the week to July 15, far more than market expectations for a drop of only 1.4 million barrels, according to analysts polled by Dow Jones Newswires.
Official data showed gasoline (petrol) reserves rose 800,000 last week, confounding forecasts for a drop of 200,000. Distillates, including diesel and heating fuel, soared 3.4 million barrels, against expectations for a gain of 1.2 million.
Prices also advanced amid tentative signs of progress over a second Greek bailout package, easing investor concerns that the eurozone debt crisis could undercut economic growth.
New York's main contract, light sweet crude for August delivery advanced 69 cents to $98.19 a barrel. Brent North Sea crude for September delivery added 99 cents to $118.05.
US crude oil inventories tumbled 3.7 million barrels in the week to July 15, far more than market expectations for a drop of only 1.4 million barrels, according to analysts polled by Dow Jones Newswires.
Official data showed gasoline (petrol) reserves rose 800,000 last week, confounding forecasts for a drop of 200,000. Distillates, including diesel and heating fuel, soared 3.4 million barrels, against expectations for a gain of 1.2 million.
Prices also advanced amid tentative signs of progress over a second Greek bailout package, easing investor concerns that the eurozone debt crisis could undercut economic growth.
Sunday, July 17, 2011
crude oil prices prediction week july 18 2011
crude oil prices prediction week july 18 2011 : World oil prices were steady as concerns over tight supplies helped offset fears the worsening euro zone crisis will dampen economic growth and signs of slower expansion in the United States and China, the two biggest energy consumers.
Oil prices remain at the mercy of macroeconomic histrionics, a feature we expect to persist" over the coming weeks. If the macroeconomic pessimism ratchets higher, oil prices could take another lurch down, especially if the shape and strength of the global recovery is once again put into question.
In terms of oil demand itself, while the cyclical rebound is drawing to a close, underlying demand indications are far from worrisome with emerging market growth still robust.
Traders are speculating that energy demand could be hit in the European countries battered by the debt crisis, although this should be partly offset by tight supplies.
The International Energy Agency on Wednesday warned that the oil market needed more supplies for the third quarter of 2011, despite increased Opec production and its own emergency stock release last month. On June 23, the IEA authorised an emergency drawdown of its member nations' strategic oil stockpiles to replace lost output from Libya and to give the global economy relief from soaring energy prices.
The Organisation of Petroleum Exporting Countries (Opec), whose members include Saudi Arabia, Venezuela and Angola, pumps about 40 percent of the world's oil supplies.
By Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in September stood at $117.25 a barrel, which compared with $117.60 a week earlier for the August contract.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for August rose to $97.29 a barrel from $96.27 the previous week.
Oil prices remain at the mercy of macroeconomic histrionics, a feature we expect to persist" over the coming weeks. If the macroeconomic pessimism ratchets higher, oil prices could take another lurch down, especially if the shape and strength of the global recovery is once again put into question.
In terms of oil demand itself, while the cyclical rebound is drawing to a close, underlying demand indications are far from worrisome with emerging market growth still robust.
Traders are speculating that energy demand could be hit in the European countries battered by the debt crisis, although this should be partly offset by tight supplies.
The International Energy Agency on Wednesday warned that the oil market needed more supplies for the third quarter of 2011, despite increased Opec production and its own emergency stock release last month. On June 23, the IEA authorised an emergency drawdown of its member nations' strategic oil stockpiles to replace lost output from Libya and to give the global economy relief from soaring energy prices.
The Organisation of Petroleum Exporting Countries (Opec), whose members include Saudi Arabia, Venezuela and Angola, pumps about 40 percent of the world's oil supplies.
By Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in September stood at $117.25 a barrel, which compared with $117.60 a week earlier for the August contract.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for August rose to $97.29 a barrel from $96.27 the previous week.
Saturday, July 16, 2011
Best performing oil stocks 2011
Best performing oil stocks 2011 ; Below is a list of my latest oil stock picks for 2011. These 2011 Oil Stock Picks are my favor stocks to buy and some of the stocks I will be trading personally. Last year, one of my top oil stock picks was Brigham Exploration (BEXP). BEXP stock went from $15 to $27 from July to December of 2010 and was one of my biggest stock gainers of the year.
Top Weekly Performing Oil & Gas Stocks
These stocks are usually going up with news.If you are looking to day trade, you might want to check out the following stocks. I usually throw these on my watch list and monitor with resistance & support levels.Read More...
Oil Stocks to Buy 2011 - 2011 Oil Stocks
Oil Stocks to Buy 2011 - Top Oil Stock Picks 2011 - 2011 Oil Stock - Best Oil Stocks to Buy 2011 - Top Oil Stock Picks 2011 - Oil Penny Stocks 2011 Read More...
5 Top-Ranked Oil and Gas Stocks for 2011
Energy, having been outshined by gold and other commodities, is emerging as a popular investment theme for 2011. Crude oil is vacillating around $91 a barrel. Rebounding developed economies and fast-growing emerging markets are rendering oil and gas stocks attractive Read More...
Five best energy stocks for $100-plus oil
A robust global recovery has some Wall Street analysts predicting crude oil will move past $100 (U.S.) per barrel in 2011. Energy stocks typically perform well at this stage in the economic cycle and the recent pullback, with S&P 500 oil-and-gas stocks flat last week, is creating a setup for those who want energy exposure.Read More...
oil stocks, crude oil stocks, best oil stocks, bp oil stock price, oil stocks to invest in,energy stocks, alternative energy stocks, wind energy stocks, clean energy stocks, bloom energy stock,list of oil stocks, oil stocks list, canadian oil stocks list, penny oil stocks list,
Top Weekly Performing Oil & Gas Stocks
These stocks are usually going up with news.If you are looking to day trade, you might want to check out the following stocks. I usually throw these on my watch list and monitor with resistance & support levels.Read More...
Oil Stocks to Buy 2011 - 2011 Oil Stocks
Oil Stocks to Buy 2011 - Top Oil Stock Picks 2011 - 2011 Oil Stock - Best Oil Stocks to Buy 2011 - Top Oil Stock Picks 2011 - Oil Penny Stocks 2011 Read More...
5 Top-Ranked Oil and Gas Stocks for 2011
Energy, having been outshined by gold and other commodities, is emerging as a popular investment theme for 2011. Crude oil is vacillating around $91 a barrel. Rebounding developed economies and fast-growing emerging markets are rendering oil and gas stocks attractive Read More...
Five best energy stocks for $100-plus oil
A robust global recovery has some Wall Street analysts predicting crude oil will move past $100 (U.S.) per barrel in 2011. Energy stocks typically perform well at this stage in the economic cycle and the recent pullback, with S&P 500 oil-and-gas stocks flat last week, is creating a setup for those who want energy exposure.Read More...
oil stocks, crude oil stocks, best oil stocks, bp oil stock price, oil stocks to invest in,energy stocks, alternative energy stocks, wind energy stocks, clean energy stocks, bloom energy stock,list of oil stocks, oil stocks list, canadian oil stocks list, penny oil stocks list,
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